Business
Carlyle Commodities Closes Final Tranche and Increases Unit Offering to $2.2 Million
Vancouver, British Columbia--(Newsfile Corp. - November 10, 2022) - CARLYLE COMMODITIES CORP. (CSE: CCC) (FSE: BJ4) (OTC Pink: DLRYF) ("Carlyle" or the "Company
About this update from Carlyle Commodities Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - November 10, 2022) - CARLYLE COMMODITIES CORP. (CSE: CCC) (FSE: BJ4) (OTC Pink: DLRYF) (\"Carlyle\" or the \"Company\") is pleased to announce that, further to its news releases dated October 21, 2022 and October 31, 2022, it has increased the size of its previously announced unit offering from $1,500,000 to approximately $2,200,000 (the \"Offering\") and, in connection therewith, has closed a third and final tranche (the \"Final Tranche\") consisting of 4,946,666 units (each, a \"Unit\") of the Company for gross aggregate proceeds of $742,000. Morgan Good, Chief Executive Officer and Director, commented: \"The team is thrilled to have increased and closed on further demand of our financing. Timing of the Company's business objectives as we advance strategy at The Newton Gold Project, as well as the growing optimism across the junior resource market leaves Carlyle uniquely positioned as we head towards 2023.\" Each Unit consists of one common share in the capital of the Company (each, a \"Share\") and one-half of one Share purchase warrant (each, a \"Warrant\"), with each full Warrant entitling the holder thereof to purchase one additional Share (each, a \"Warrant Share\") at a price of $0.30 per Warrant Share for a period of thirty-six months following issuance. The Warrants are subject to an acceleration provision (the \"Acceleration Provision\") whereby in the event the Shares have a closing price on the CSE (as defined below) (or such other exchange on which the Shares may be traded at such time) of $0.50 or greater per Share for a period of ten (10) consecutive trading days at any time from the date of issuance, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof (by disseminating a news release advising of the acceleration of the expiry date of the Warrants) and, in such case, the Warrants will expire on the thirtieth day after the date of such notice. Collectively, the aggregate proceeds of the first (the \"First Tranche\"), second (the \"Second Tranche\"), and Final Tranche are approximately $2,201,250 and are anticipated to be used for exploration advancement of the Company's Flagship Newton Project in British Columbia, and general working capital. Fees of $30,120 and 200,800 finder's warrants (each, a \"Finder's Warrant\") we...